Makro will continue to operate in Brazil but with only 24 stores in the country's richest state, Sao Paulo. Makro, whose Latin American stores are owned by Netherlands-based SHV Holdings, did not disclose a transaction price.

In a securities filing last week, Carrefour confirmed talks to acquire the stores but denied Brazilian media reports it would acquire all of Makro's Brazilian operations..

Makro said the sale, which must still be approved by domestic antitrust watchdog CADE, is aimed at making its Brazilian business more profitable.

($1 = 4.2981 reais)

(Reporting by Marcelo Rochabrun; editing by John Stonestreet and Sonya Hepinstall)